Ochsner Health’s venture arm has launched the Ochsner Louisiana Innovation Fund, a $10 million fund for investments in Louisiana-based, early-stage health companies.
Ochsner operates 46 hospitals and more than 370 health and urgent care centers across Louisiana, Mississippi, Alabama and the Gulf South. Its Connected Health digital medicine program is caring for patients beyond its walls. In 2023, Ochsner Health cared for more than 1.5 million people from every state and 65 countries.
Ochsner Ventures said the fund, in partnership with Louisiana Economic Development (LED) via the State Small Business Credit Initiative (SSBCI), will further health innovation, support local founders and businesses, and catalyze economic development that creates new jobs and prosperity for our communities.
Ochsner Ventures will manage the program and make equity investments in venture and seed-stage health companies that are headquartered or have significant operations in Louisiana.
The fund will collaborate with a network of ecosystem partners to identify companies with compelling business models and strong leadership teams whose innovations advance Ochsner’s strategic priorities of accelerating value-based care, digital transformation of care delivery, and improving access and community health across the state.
“Supporting Louisiana entrepreneurs and businesses is one of the many ways Ochsner is investing in Louisiana by both catalyzing innovation to drive economic development and job growth and accelerating new solutions designed to improve the health of the communities we serve,” said Aimee Quirk, chief corporate development officer and CEO of Ochsner Ventures, in a statement. “Ochsner has a strong track record of partnering with innovators and other leaders in the entrepreneurial ecosystem to solve healthcare challenges and we are grateful to LED for recognizing our legacy of localized investment and our commitment to support economic development through innovation.”
The Ochsner Louisiana Innovation Fund will make its first investment in Nest Health, a value-based whole-family healthcare provider headquartered in New Orleans. Co-founded by Rebekah Gee, M.D., former Secretary of Health of Louisiana, and Rebecca Kavoussi, M.P.P., former president of Landmark Health, Nest Health provides parents and children with comprehensive medical, behavioral, and social care through house calls, virtual care and 24/7 support. Since launching, its services have become accessible at no additional cost to thousands of families covered by Medicaid in the New Orleans area.
“We are thrilled that Ochsner is supporting our vision of bringing care to families, as a unit, starting in Louisiana,” said Gee in a statement. “Ochsner's investment in Nest's innovative care model shows their commitment to improving health equity and delivering quality care to our country's most vulnerable communities. We're proud to be partnered and look forward to the impact we will continue to have together."
